All Forum Posts by: AJ Singh

@Vishalkumar Soni

Check Rentometer for rent averages around the address. You should get a good idea of market rent. Right now seasonality is setting in. get the house rented as quickly as possible for lower than market.

Rents do trend down in winters. IF your prop mgt has not leased in 3 months, they are being passive, not holding open houses and above all have advised you wrongly about what rent to expect. 

@Douglas Skipworth

i see rents stagnating right now in the lower priced neighborhoods in our portfolio. This year has not been " rosy" 

There are blue collar neighborhoods which were gentrifying in covid times but the quality of tenant has deterioated. Bankruptcies are rising as well. 

The Cordovas, Colliervilles, Southavens, Olive Branch continue to do well but the rental yields are lower due to higher price points and mortgage payments. 

@Ricio Montes

You will need to consult an architect on plans and some do specialize in ADUs

@Vishal Amin

Hire an eviction attorney and let them handle the process. 

I am not sure if your tenant is receptive to leaving in a week as you have demanded. Your rental should have a Property Manager for any unforseen events. 

Best of Luck!

Hemlane is pretty solid so far.

@Ricio Montes

Adding ADU's in the current RE environment is a no brainer. Check with the City hall for permits and plans and the general timeline. Construction costs for Junior ADU to a 2 Bedroom stand Alone ADU is around 65k to 150k. Rents for a studio is around $1500 and a 2 bedroom is around $2500 in La county. You will get your 1 percent return in your backyard without going OOS route.

Lots of threads on suitabililty of buying rentals in Memphis. 

All i can say since you will be a local, do attend any RE meetup groups. That will be very beneficial

@Walter Pineda

Thanks for your comment on Foundation PM. I recd a bunch of marketing flyers from them last week

Agree with @Mike Mosee

six years ago $75k would have given u a decent house but not anymore. 

cordova, bartlett, southaven are good rental neighborhoods.

@Justin Thind

It is always good to be speculative but in B neighborhoods . Make a little less but be able to collect 

Always ask yourself why didnt a local investor snap up the deal already?

I think you should check some REI groups in Detroit and get Wholesaler referrals. That way you may be able to buy under the market price and put some sweat equity for your second investment deal.

Congrats on the first one!!